Indian-origin billionaire brothers Mohsin and Zuber Issa are set to acquire a majority stake in the leading UK supermarket chain Asda from its US owner Walmart after a $ 8.8-billion deal was struck as part of a consortium involving private equity firm TDR Capital.
American retail major Walgreens Boots Alliance on Tuesday said it would retain its pharma retail business - Boots UK - thus abandoning the entire sale process. The company did not make any comment specifically on the offer made by Mukesh Ambani-owned Reliance Industries (RIL), which had made a bid for the company last month. "As a result of market instability severely impacting financing availability, no third party has been able to make an offer that adequately reflects the high potential value of Boots and No7 Beauty Company.
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